{
  "id": 5018591,
  "title": "Annu Projects shares list 27% below IPO price, hit upper circuit",
  "url": "https://urgent.news/2026/09/02/annu-projects-shares-list-27-below-ipo-price-hit-upper-circuit",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-02T04:59:57.000Z",
  "source": {
    "name": "Hindu BusinessLine",
    "slug": "hindu-businessline",
    "url": "https://www.thehindubusinessline.com/markets/annu-projects-shares-debut-at-up-to-27-discount-to-ipo-price-hit-upper-circuit/article71418117.ece"
  },
  "original_language": "en",
  "account": "Annu Projects shares opened at a 24-27 per cent discount to their IPO price of ₹99, trading at ₹75 on the BSE and ₹72 on the NSE on their weak debut. Within minutes, the stock breached the upper circuit, hitting ₹75.60 on the NSE and ₹78.74 on the BSE. The ₹175-crore IPO, which was 2.93 times oversubscribed overall, saw a 3.55 times subscription from non-institutional investors and a 2.68 times subscription from retail investors. QIBs were 1.72 times oversubscribed. The company had fixed a price band of ₹94-99 a share for the IPO, which comprised a fresh issue of 1,76,83,000 equity shares. Annu Projects intends to use the IPO funds to meet working capital requirements of ₹115 crore, capital expenditure of ₹15 crore, and general corporate purposes. Mefcom Capital Markets Ltd acted as the book-running lead manager, while Kfin Technologies Ltd was the registrar for the issue.",
  "summary": "The engineering, procurement and construction firm had raised ₹175 crore through an IPO that attracted 2.93 times overall subscription.",
  "key_points": [
    "Annu Projects shares opened 24-27% below ₹99 IPO price",
    "Stock breached upper circuit at ₹75.60 (NSE) and ₹78.74 (BSE)",
    "IPO oversubscribed 3.55 times by non-institutional investors"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Free Press Journal",
        "title": "Annu Projects Shares Debut At 27% Discount To IPO Price",
        "url": "https://urgent.news/2026/09/02/annu-projects-shares-debut-at-27-discount-to-ipo-price",
        "published": "2026-09-02T05:46:14.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}